Star Performance By Hotel Industry In Bangalore
The quality hotel market in Bangalore has emerged atop recovery charts with high occupancy levels and stabilised rates to support growth in market performance.
Average occupancy rose 9.6 percentage points in 2002 to reach 70.9 per cent from 61.3 per cent in 2001. Bangalore is the only hotel market in India, which witnessed a stellar performance.
Despite a 2.3 per cent decline in average rates (Rs 4,274 in 2002 from Rs 4, 372 in 2001), Bangalore posted a 13 per cent RevPAR (Revenue Per Available Room) growth during 2002 over 2001 levels to reach Rs. 3,028.
According to the study by PKF Hotel Performance Report 2002, which was conducted in five markets of the country